WardsAuto Podcast: Magna International CEO Swamy Kotagiri on Electrification, Waymo and Fisker Debacle
Tier 1 suppliers are caught between changing consumer demand and their automaker customers’ plans. Magna International CEO Swamy Kotagiri, one of the leading CEOs in the auto industry, talks to WardsAuto about the challenges of electrification and BEV startups.
September 16, 2024
The pullback of consumers buying battery-electric vehicles is causing havoc with automakers, with several delaying major BEV projects.
Such changes cause financial pain and disruption for companies like Ford, General Motors, Mercedes and more. They can pull back because the Biden Admin. slowed BEV mandates, allowing for greater production of hybrids and plug-in hybrids to meet clean-air and CO2 targets.
As challenging as it is for automakers, it is that much more so for suppliers. When automakers sneeze, suppliers catch a cold.
Magna International is one of the world’s leading supplier companies. CEO Swamy Kotagiri joins us to discuss those challenges, the capital requirements of suppliers and how he sees the shake-out of BEVs, HEVs, PHEVs and internal-combustion-engine and hydrogen vehicles.
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